Best 1.5% Cash Back Credit Cards (Ranked & Compared)
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Credit card rewards were first introduced in 1984 with the Diner’s Club card. In the 1990s Discover and other issuers began offering cash back rewards, with 1% cash back becoming the industry standard. Today, credit cards that pay 1.5% cash back have become the new minimum standard.
They are ideal for those wanting a rewards card for everyday spending. These cards can also be part of a larger reward strategy using cards that pay even higher rewards in select categories. What follows is a list of the best 1.5% cash back cards currently available.
Summary of the Best 1.5% Cash Back Credit Cards
Chase Freedom Unlimited®—Editor’s Choice
New cardholders can also earn a higher signup bonus than offered by most of the cards on the list. It has a 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%. There’s also no annual fee. Finally, note that rewards can be redeemed for cash or Chase Ultimate Rewards points. As points, they can be transferred to the Chase Sapphire Preferred® Card or Chase Sapphire Reserve® to take advantage of the bonuses those cards offer when you redeem points for travel.
It makes the top of our list because it generates the most cash back for the most consumers.
Rewards:
- Welcome Bonus: Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel, 4.5% on dining and drugstores, and 3% on all other purchases.
- 0% Intro APR: Get 0% intro APR on purchases and balance transfers for the first 15 months. After that, your rate will be 20.49% - 29.24% variable, depending on creditworthiness.
- Annual Fee: $0
- Foreign Transaction Fee: 3% of each transaction in U.S. dollars
Capital One Quicksilver Cash Rewards Credit Card
Rewards:
- Welcome Bonus: One-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening
- 0% Intro APR: Get 0% intro APR on purchases and balance transfers for the first 15 months. After that, your rate will be 19.99% - 29.99% variable, depending on creditworthiness.
- Annual Fee: $0
- Foreign Transaction Fee: None
Capital One QuicksilverOne Cash Rewards Credit Card
The card does charge an annual fee, but Capital One will consider new accounts for a credit limit increase in as little as six months. It offers no signup bonus and a high APR, but it doesn’t charge foreign transaction fees. The card also comes with 0% Fraud Liability, and you can monitor your credit with the CreditWise app (which is free).
Rewards:
- Welcome Bonus: N/A
- 0% Intro APR: None
- Annual Fee: $39
- Foreign Transaction Fee: None
American Express Cash Magnet® Card—Best Amex Option
Rewards:
- Welcome Bonus: Earn $200 back after you spend $2,000 in purchases on your new Card within the first 6 months of Card Membership. You will receive the $200 back in the form of a statement credit.
- 0% Intro APR: Get 0% intro APR on purchases and balance transfers for 15 months months. After that, your rate will be 19.24% to 29.99% variable, depending on your creditworthiness.
- Annual Fee: $0
- Foreign Transaction Fee: 2.7% of each transaction after conversion to US dollars.
Bank of America® Travel Rewards Card
First, points are worth the industry standard of $0.01 when redeemed for credit against travel or dining charged to the card. For those who spend in these categories enough to use all of the points, the fact that cash redemptions payout at a lower rate becomes irrelevant.
Second, and related to the first point, it has a healthy signup bonus. It’s higher than most other cards on the list.
Finally, for those who qualify for Bank of America’s Preferred Rewards program, the card exceeds the 1.5% rewards rate. With Platinum Preferred rewards, the rate goes up to 2.62%. Keep in mind, however, that you need $100,000 at Bank of America or Merrill Edge and a Bank of America checking account to qualify for this top-tier rate.
Rewards:
- Signup Bonus: Get 25,000 bonus points when you make at least $1,000 in purchases in the first 90 days the account is open.
- 0% Intro APR: Get 0% intro APR on purchases for 15 months and for any balance transfers made within the first 60 days of opening your account.
- Annual Fee: $0
- Foreign Transaction Fee: $0
Discover It® Miles Card
I rank it in the middle of the cards on our list for a few reasons. First, it doesn’t offer a signup bonus. Second, it doesn’t offer elevated rewards for certain purchase categories. Third, the Discover network isn’t as widely accepted as Visa or Mastercard. On the plus side, however, Discover does match the miles earned at the end of the first year, bringing the reward rate up to 3% for the first 12 months.
Rewards:
- Signup Bonus: None
- 0% Intro APR: Get 0% intro APR on purchases and balance transfers for the first 15 months, then a variable APR of 17.24% to 28.24%. Terms apply.
- Annual Fee: $0
- Foreign Transaction Fee: $0
Chase Freedom Rise℠
Rewards:
- Signup Bonus: Earn a $25 statement credit after signing up for automatic payments within the first three months of opening your account. With automatic payments, just pick a date and dollar amount to make sure your Credit Card gets paid on time.
- 0% Intro APR: None
- Annual Fee: $0
- Foreign Transaction Fee: 3% of the amount of each transaction in U.S. dollars.
Earning Potential from a 1.5% Cash Back Credit Card
To estimate the earnings potential of each card, we made the following assumptions:
- $3,000 was charged to the card each month
- $300 of this amount was on travel purchased through Chase
- $250 of this amount was on dining, including delivery and takeout
- $100 of this amount was at drugstores
- $1,000 of this amount was paid using a digital wallet (Apple Pay, for example)
- Points or miles were redeemed for the highest value
The 1 Year column includes any signup bonuses or rewards matches. The 3-year column represents a cumulative total of the first three years. We also subtract any annual fee from these results.
| Credit Card | 1 Year | 3 Years |
|---|---|---|
| Chase Freedom Unlimited® | $929 | $2,387 |
| Capital One Quicksilver Cash Rewards Credit Card | $690 | $1,770 |
| Capital One QuicksilverOne Cash Rewards Credit Card | $501 | $1,503 |
| American Express Cash Magnet® Card | $690 | $1,770 |
| Bank of America® Travel Rewards Card | $790 | $1,870 |
| Discover It® Miles Card | $1,080 | $2,160 |
| Chase Freedom Rise℠ | $540 | $1,620 |
Keep in mind that the above estimates make assumptions that may not apply to your specific circumstances. For example, you may charge more or less to the card, spend different amounts in different categories, or fail to spend enough to earn a signup bonus. The numbers do, however, provide a reasonable comparison between the 1.5% cash back cards on our list.
Chase tops our list with the most cash back rewards given the assumptions we made. Keep in mind that if paired with either the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve®, rewards could be even higher. The Chase Freedom Unlimited® generates Chase Ultimate Rewards points that can be transferred to other cards. When transferred to either the Preferred or Reserve card, you’ll receive a 25% or 50% bonus if you redeem the points for travel purchased through Chase. We did not factor these bonuses into our rewards calculations.
How to Choose a 1.5% Cash Back Card
The cash back rewards are the most important factor. There are, however, other factors to consider when choosing the best option. Here are some factors to keep in mind.
Elevated Reward Categories
While all the cards pay the same base rate, some pay more than 1.5% in certain select categories. The Chase Freedom Unlimited® is a good example of this, which is why it’s our top choice.
Signup Bonus
Most of the cards on the list pay $150 after the spending requirement is satisfied. The majority of cards require you to spend $500 in the first 3 months, although some (American Express Cash Magnet® Card) require a $1,000 spend. The best options pay a higher signup bonus, as much as $200 (Chase Freedom Unlimited®).
0% APR
Virtually all of the cards on the list offer a 0% introductory APR on purchases, balance transfers, or both. It’s important to focus on how long the introductory rate lasts (12 to 15 months in most cases). For balance transfers, make sure to understand the fees that you’ll incur (typically 3% of the amount transferred).
Annual Fee
Most 1.5% cash back cards don’t charge an annual fee. As a result, these are great options for an everyday card, perhaps in conjunction with a travel rewards card.
Foreign Transaction Fees
If you plan to travel outside the U.S., consider whether the credit card charges foreign transaction fees. These can be as high as 2.7% or more of the amount of the purchase. Some of the cards on the list do not charge this fee.
Final Thoughts
Earning a minimum of 1.5% on all your purchases isn’t bad. We also like that the cards in this list either have no annual fee or a very low annual fee. Most of these cards are good companion cards to others that offer elevated cash back on certain categories. Or, if you only want to carry one credit card, these can work. But, if you want to earn more cash back on all your purchases, check out our list of credit cards that offer an even higher 2% cash back on all purchases.